COMMERCIAL CONSTRUCTION LOANS
- Ground up construction projects including land purchase.
- Retrofit of existing structures.
- All direct project costs including soft costs included.
- Single tenant projects with strong credit preferred.
- Only strong national credit tenants considered for multi-tenant projects.
TYPICAL TRANSACTION TERMS
- Loan Amounts: $2MM – $20MM+
- Loan to Cost: 80% to 100%
- Maximum Stabilized LTV: 75%
- Loan Term with Extensions: 12 – 36 months
- Prepayment: Open prepay with Minimum Interest
- Rate: Starting at 1 Month LIBOR + 6.5%
- Minimum Origination / Exit Fees: 2.5%
- Geographic Region: National except MN, ND, NV, SD, VT, & WV
- Recourse: Non-Recourse with Completion Guaranty, Surety Bond may be required
- Minimum FICO: 640
- Liquidity/Net Worth: 15%/100% of Loan Request
- Bankruptcy: None in the past 5 years
- Reserves (as required): Interest, Taxes, Insurance, and/or Construction.
to download and provide the necessary documentation to receive a Conditional Loan Commitment.